New Delhi. The Indian stock market is facing continued selling pressure from foreign portfolio investors (FPIs). According to data from the National Securities Depository Limited (NSDL), FPIs have sold shares worth Rs 19,994 crore in the first five trading sessions of November, raising concerns about market stability. Last Friday, the highest selling of Rs 5,635 crore was done in a single day.

This selling has led to the major Indian indices, Nifty 50 and Sensex, falling nearly 8% since October. In October, FPIs sold a record Rs 1,13,858 crore worth of shares. Although FPIs have sold heavily in the secondary market, they remain active buyers in the primary market. In October, FPIs invested Rs 19,842 crore in initial public offerings (IPOs) and other primary market opportunities.

Experts say volatility may continue in the near future as foreign investors are rearranging their portfolios. VK Vijayakumar, Chief Investment Strategist, at Geojit Financial Services, said FPIs may continue selling due to the high valuation of Indian stocks. This continued selling by FPIs is creating uncertainty in the Indian stock market and experts are monitoring the activities of domestic institutional investors to balance these withdrawals.

The market had closed with a decline.
The domestic stock market closed with a decline for the second consecutive day on Friday due to continued withdrawal of foreign funds and selling in big stocks like Retheliance Industries, ICICI Bank and State Bank of India. The BSE's 30-share benchmark index Sensex clo, sed with a decline of 55.47 points or 0.07 percent at 79,486.32 points. During trading, at one point it slipped 424.42 points to 79,117.37 points. The National Stock Exchange (NSE) index Nifty also closed at 24,148.20 points, falling 51.15 points or 0.21 percent.